Ferrari and BMW move to aluminium wiring in new models as copper prices surge
AI Market Summary
Ferrari and BMW adopting aluminium wiring, following Tesla and Chinese EV makers, reinforces a cross-industry substitution trend driven by elevated copper prices. Estimates suggest ~2% of 2024 copper demand could be displaced by aluminium, potentially rising to ~6% by 2030, implying structural headwinds for copper demand while supporting incremental aluminium consumption in autos and related cabling. Near-term, the news is most supportive for aluminium-linked pricing and positioning.
Impact level
● Medium
Affected assets
NCCOALUMINIUM2USD/USDT-1.45%
AI Insight · NCCOALUMINIUM2USD/USDTAI Insight
● Neutral
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Ferrari and BMW said they will adopt aluminium wiring at scale in new models, following Tesla and Chinese EV makers in switching away from copper. The move comes as copper prices surged, peaking close to $15,000 per metric ton in late January, while aluminium’s lighter weight also appeals to automakers. JPMorgan forecast about 2% of global copper demand could be replaced by aluminium in 2024, rising to 6% by 2030. Aluminium is currently priced at about $3,100 a ton, roughly a quarter of copper’s price.
